GOLD 0.51% $1,391.7 gold futures

Three Charts That Show Gold is Still Dirt Cheap

  1. 2,896 Posts.
    lightbulb Created with Sketch. 49
    Three Charts That Show Gold is Still Dirt Cheap
    "...The Gold price required to back the monetary base is calculated from US gold reserves, the Gold price, and the monetary base. In the 1930s and by the end of the 1970s, the Gold price reached a level that backed 100% of the monetary base. Today, the Gold price would need to reach $22,000 to achieve the same feat.

    In 2008, which was not too long ago, the Gold price reached a 30% backing of the monetary base. For that to occur today, the Gold price would need to hit $6,700..."
 
watchlist Created with Sketch. Add GOLD (COMEX) to my watchlist
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.